Twitter founder Jack Dorsey apologized Saturday for the state of the company he left behind.
Under the ownership of Elon Musk, Twitter fired an estimated 50 percent of its employees Friday, which amounts to about 3,700 people.
“Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment. I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that,” he posted.
Dorsey stepped down as Twitter CEO in November 2020; he resigned his seat on the company’s board in May, The Hill reported.
“I am grateful for, and love, everyone who has ever worked on Twitter. I don’t expect that to be mutual in this moment…or ever…and I understand,” he posted.
I am grateful for, and love, everyone who has ever worked on Twitter. I don’t expect that to be mutual in this moment…or ever…and I understand. 💙
— jack (@jack) November 5, 2022
For his part, Musk has said the workforce cuts were necessary because the social media giant is also a giant money pit, losing more than $4 million per day.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
— Elon Musk (@elonmusk) November 4, 2022
While Dorsey was apologetic, Musk focused on the future in a series of posts.
“Twitter will soon add ability to attach long-form text to tweets, ending absurdity of notepad screenshots,” he wrote, adding, “Followed by creator monetization for all forms of content.”
Followed by creator monetization for all forms of content
— Elon Musk (@elonmusk) November 5, 2022
Bruce Daisley, Twitter’s vice president for Europe, the Middle East and Africa from 2015 to 2020, said Musk’s early days owning Twitter were a disappointment, according to the U.K. Guardian.
His knew boss, “doesn’t know what he’s doing,” Daisley said in a podcast, according to the Guardian.
“I think Elon thought he was going to come in and solve everything and very quickly he’s going to work out that it’s far more complicated,” he said.
“It’s pretty evident from every public action that he’s taken with this whole acquisition: he doesn’t know what he’s doing”
Musk has said Twitter’s cuts were essential.
Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.
Everyone exited was offered 3 months of severance, which is 50% more than legally required.
— Elon Musk (@elonmusk) November 4, 2022
Amid an advertiser pause triggered by allegations that Twitter would not police what is posted, Stephan Loerke of the World Federation of Advertisers said most advertisers will judge Twitter based on what it does.
“We are hearing from the ownership of Twitter that they remain committed to the progress made so far. We will be collaborating with Twitter on that basis and we will be judging them on actions,” he said in comments published by the Guardian.
Advertisers, he said, have learned “how important it is to control the content they appear next to, because people will associate brands with content.”
